Butler citizen. [volume] (Butler, Pa.) 1877-1922, 1887-10-28

And a msn can enjoy his own fruit instead
OF having boys skin each tree;
And the dog will have something better to
eat
Than thievish urchin's trouser seat.'
A Story Of Fortune in the Oil
RegiOnS--It is Recalled by
the Death of a Horse Which
was % Years Old.
BRADFORD, Pa, Oct. 1S.-There
died on farm near Bear Lake,
Crawford county, few days, horse
that in January. 1865. figured promi-
nently in one of the most important
operations in the history of oil devel-
opment in Venango county-an op.
Grafton by which the owner of the
horse and his two brothers, without
a dollar of capital, made million
dollars apiece The horse was
known as "the 'Prather horse" and
was formerly the property of the late
George Prather, of Meadville. 1t
was nearly % years old.
George Prather was one of three
brothers-John, George and Abra-
ham-who started country store in
the village of Plumer. Vensngo coun.
ty, in 1864. John Prather was
married to the daughter of an old
farmer named Holmden, who lived on
Pithole creek, seven miles beyond
petroleum developments in 1864. In
the fall of that year representatives OF
q new corporation, known as the Un-
tied States Oil Company, leased a
part of old man Holmden's farm and
began putting down a we'll on it.
The era of bogus oil companies,
which subsequently swindled the
public out of millions of dollars in q
few months time, was then begin
ming. No one in the neighborhood
Of Holmden's had any faith in the
existence of oil theresbouts, but the
Prathsr brothers thought that on the
strength Of the United States Com.
pany's. having begun actual operati-
ons on the farm, they might utilize
the fact in little speculation of their
own. They had no money, but John
Prather, the son-in-law OF the owner
of the farm, made the latter on offer
of $25, 900 for the refusal of the re-
mainder of his farm fort sixty days.
As $25, 900 was more than ten times
the value of his property, Holmden
took the chances of the boys being
able to raise the money, and readily
signed the papers,
BY the middle of November the
drill on the United States lease had
reached third sand, the sand in which
oil had invariably been found along
Oil creek, but no oil was found. The
drill was continued, however, to de-
lay the day of failure and to give op-
portunity for the placing of more of
the company's stock with credulous
spectators. Cold weather came on
and compelled operations TO cease
for the time, just as the drill reached
fourth sand, something till then un-
known.
The Prather boys had not done
any thing with the Holmden farm as
late as January, 1865. Then they
concluded to push it in the market,
as they believed few weeks more
would see the failure of the United
States Company's scheme. George
Prather was sent East to find GUS
toner for the farm. At Pittsburgh
he interested G. b. Duncan, of the
firm of Duncan & Kent, in the mat
ter, and the two went on to Phila.
delphia to dispose OF the property.
Toward the middle Of January the
weather grew mild, and there came
breakup The superintendent of
the United States Company paid a
visit the well, with the intention of
drawing the tools and abandoning the
work His curiosity prevailed upon
him to see what the character of the
fourth sand was, and he fired up and
started the drill. 1t had taken but
few turns when it dropped eight feet
in the rock and tapped the oil vein.
The well was tubed, and it suddenly
began flowing, spcuting oil at a 300
barrel rate.
That was before the days of oil
we'll mysteries" and the news of
the strike on the Holmden farm
soon spread through the region. The
farm at once jumped among the mil
lions in value. John and Abraham
Prather were wild. Their brother
George was in the East trying to
sell the farm, and. ignorant of the OIL
strike, might even then have dispos-
ed of it for o song. kilograms were
sent to him at Pittsburgh and Phila-
delphia, but he could not be found.
There was as yet no railroad commu-
nication between Oil City and Pitts
burgh. George Prather owned a
very fleet and strong young horse,
and John mounted that horse. and
started for Pittsburgh. He did not
leave the saddle until he had made
the entire distance, nearly 100 miles,
over the crooked and hilly roads along
the Allegheny river. At Pittsburgh
be took the cars for Philadelphia If
the train had been one minute late
the Prather boys would have lost
5000, 900, for John met his brother
George and Duncan on the Girard
House steps, az they were on their
way to close out the sale of the farm
for 81, 100000. The three took the
next train for Pittsburgh, and reach
ed the Holmden farm the day before
the sixty days refusal expired. Pit
hole creek was then overrun with ex-
cited oil-speculators, and almost any
price was offered for land. The rise
Of Pithole city had begun. Mrs.
Holmden, the old farmers wife, re-
fused to sign the deed to the farm un-
less the price was put at $685. 900
and a present $5 900 in gold was
given her. The Sl25. 900 was quick
ly raised by selling very small in
terest in the farm, but the whole
property came near being forfeited in
the search for the So, 600 in gold. 1t
was obtained through the banker
Culver, Of Housewife, just in time to
save the property. The Prather